CNOOC seeking coordinator to lift its share of Guyana oil

Must Read

Oil workers flee as third storm in month aims for U.S. offshore fields

(Reuters) - Royal Dutch Shell halted some oil production and began evacuating workers from a U.S. Gulf...

U.S, Guyana Working Group on energy and investments to be formed

Following the signing of a Memorandum of Understanding (MoU) between U.S Secretary of State, Michael Pompeo and...

“We don’t apply political pressure connected to our commercial enterprises” – US Secretary of State

U.S. Secretary of State, Michael R. Pompeo says that the United States does not exert political pressure on countries...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Chinese oil company CNOOC is looking for a coordinator to lift is share of oil when production gets underway at the 120,000 bpd Liza Phase 1 Development project offshore the South American country of Guyana.

In a notice published in the local press, CNOOC Petroleum Guyana Ltd. said it was seeking a Liftings/Operations Coordinator who will be responsible for its share of crude oil from the Stabroek Block, in compliance with local regulations and policies.

The company has a 25% working interest in the Stabroek Block with ExxonMobil as operator (45%) and co-venturer Hess (30%).

Director of Guyana’s Department of Energy, Dr. Mark Bynoe, told reporters at a recent press conference in Georgetown that efforts are being made to put in place preparations for how the government sells its share of crude when production begins.

“We will be looking for an entity to provide that service on a transparent basis…we are looking for an advisor to assist us in creating that tender document to go out to the market. The process will be completed before end of the year. Guyana will be selling its share independently to get the best price,” he said.

To date, the Stabroek explorers have discovered more than 5.5 billion barrels of oil equivalent and the search for more crude is underway. ExxonMobil’s 13 discoveries will see multiple developments offshore with 5 FPSOs by 2025, producing some 750,000 bpd.

- Advertisement -

Latest News

Oil workers flee as third storm in month aims for U.S. offshore fields

(Reuters) - Royal Dutch Shell halted some oil production and began evacuating workers from a U.S. Gulf...

U.S, Guyana Working Group on energy and investments to be formed

Following the signing of a Memorandum of Understanding (MoU) between U.S Secretary of State, Michael Pompeo and Guyana’s President, Dr. Mohamed Irfaan...

“We don’t apply political pressure connected to our commercial enterprises” – US Secretary of State

U.S. Secretary of State, Michael R. Pompeo says that the United States does not exert political pressure on countries to further the interest of...

Pompeo visit affirms Guyana’s importance to the US – Kevin Ramnarine

Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine believes United States Secretary of State Michael Pompeo’s visit...

We did not discuss Exxon; Guyana President says of meetings with Secretary Pompeo

During his meeting with U.S. Secretary of State, Michael R. Pompeo, Guyana’s President, Dr. Mohamed Irfaan Ali, said that he did not engage in...

More Articles Like This